Swedish Q2 GDP Growth Revised Down to 1.3%

The Swedish economy advanced 1.3 percent on quarter in the three months to June 2017, below the preliminary estimate of 1.7 percent and following a 0.6 growth in the previous period, final figures showed. It was the strongest pace of expansion since the last quarter of 2015, mainly boosted by net exports and government spending.
Statistics Sweden | Joana Ferreira | joana.ferreira@tradingeconomics.com 9/13/2017 7:59:30 AM
Exports rebounded 2.3 percent, following a 1 percent drop in Q1; and imports increased at a slower 1.5 percent, easing from a 1.7 percent advance in the previous period.

Also, general government expenditure rose 0.2 percent after contracting by 0.2 percent in the previous quarter; while gross fixed capital formation grew 2.5 percent after rising by 4.1 percent in Q1, and household consumption went up 0.7 percent, slower than a 0.9 percent gain in the previous period. Changes in inventories subtracted 0.1 percentage points to the growth. 

On the production side, production of goods increased by 2.4 percent (1.3 percent in Q1) and service-producing industries grew by 0.9 percent (0.5 percent in Q1). 

Employment, measured as the total number of hours worked, increased by 0.3 percent, seasonally adjusted, and the total number of persons employed rose by 0.6 percent.

Year-on-year, the GDP advanced 3.1 percent, also below an earlier estimate of 4 percent and following a 2.3 percent growth in the previous period. It was the strongest pace of expansion in a year.

Swedish Q2 GDP Growth Revised Down to 1.3%